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Finances

Glossary

Bitcoin

Yes, we accept Bitcoin, BTC! You could purchase your 12 months Supporter account including 100 Credits by using BTC.

There is "Purchase via Bitcoin" topic in the RZA Store menu available. If you click it, you will get more details. Since the exchange rate is quite volatile, we refresh the data every 10 minutes. You will see the current exchange to Euro, and the amount of Bitcoin you would have to pay for. We call this stage an "Offer". An Offer is valid for up to 1 hour! If you accept the offer within this period, you are good to go for the transfer. If you don't make it within this one hour, the offer becomes invalid, and you have to start over again with your purchase!

If you are pleased with the details shown, you could hit "Create detailed offer". Once you did you will see more details. Most important, there is an so called "address" you would have to send the amount of Bitcoin to. You will see a QR-Code as well. If you pay by using a smartphone, you could just read the QR-Code, confirm the payment, and you are done.

If you decide not to accept the offer, you could hit "Refuse offer", and the offer will be deleted immediately.

Once you did the payment, you have just to confirm it by pressing the button "Payment executed" on the page showing your offer details. If you do, the offer turns into an transaction. You see a list of all transactions on your "Purchase via Bitcoin" page.

There are two types of transactions: "waiting for fulfillment" and fulfilled transactions. If a transaction is in wait, we just wait for the incoming transfer of the Bitcoin. Once we received the amount and the transaction was confirmed by the Bitcoin network, we will enable your items, and turn the transaction into fulfilled.

Please stay away from turning an offer into status "Payment executed" before you arranged the Bitcoin transfer. If you ignore this warning, it might happen you send your Bitcoin into the digital nirvana, and since we wouldn't receive any Bitcoin in this case, you would not receive any items from us. Don't act risky! We expect your payment to arrive within 48 hours after your hit "Payment executed". If you fail in transfering the Bitcoin, we will cancel the transaction.

For the nerds: We are not accepting anything like "Bitcoin cash" or any other virtual currencies beside Bitcoin BTC! Please notice, the sender of Bitcoin determines how fast a transaction will be executed, by the amount of the network fee he/she is willing to pay. We do not pay any network fees for incoming transfers. We consider an incoming transaction to be valid, once at least 6 network parties confirmed the transfer. Based on the amount of your Bitcoin network fee this transfer can happen immediate, or take hours. We do not feel responsible for any delays!

If you feel you need to know more details of how we handle Bitcoin/BTC, please come back to us in the Forums and suggest what type of information you are missing.

Disclaimer: If you are not familiar with Bitcoin, you shouldn't make any use of it. Bitcoin/BTC is a really risky way of turning real money into virtual currencies. Nobody knows how much your Bitcoin/BTC will be worth by tomorrow. The exchange rate is subject of fast changes. Keep the risk in mind!